BridgeBio Pharma (NASDAQ:BBIO) Sees Unusually-High Trading Volume

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) saw unusually-high trading volume on Tuesday . Approximately 446,402 shares were traded during trading, a decline of 75% from the previous session’s volume of 1,800,390 shares.The stock last traded at $23.09 and had previously closed at $23.00.

Analyst Ratings Changes

Several equities analysts recently weighed in on BBIO shares. JPMorgan Chase & Co. raised their price target on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Mizuho cut their target price on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. UBS Group lowered their price target on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, May 28th. Evercore ISI started coverage on shares of BridgeBio Pharma in a report on Tuesday, May 14th. They set an “outperform” rating and a $50.00 price objective on the stock. Finally, Bank of America lowered their target price on shares of BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.21.

BridgeBio Pharma Stock Performance

The company has a market cap of $4.41 billion, a PE ratio of -7.32 and a beta of 1.08. The company’s 50 day moving average price is $27.39 and its 200-day moving average price is $31.75.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.35. The firm had revenue of $211.12 million during the quarter, compared to analysts’ expectations of $140.06 million. Equities research analysts expect that BridgeBio Pharma, Inc. will post -3.2 EPS for the current year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 1,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $28.84, for a total transaction of $28,840.00. Following the completion of the transaction, the director now owns 5,500 shares in the company, valued at $158,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 24.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in shares of BridgeBio Pharma by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock valued at $60,358,000 after purchasing an additional 75,564 shares during the period. UBS Group AG increased its position in shares of BridgeBio Pharma by 545.9% during the fourth quarter. UBS Group AG now owns 985,510 shares of the company’s stock valued at $39,785,000 after buying an additional 832,940 shares during the period. ADAR1 Capital Management LLC purchased a new stake in shares of BridgeBio Pharma in the fourth quarter worth about $7,474,000. Vanguard Group Inc. boosted its position in shares of BridgeBio Pharma by 13.5% in the fourth quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock valued at $516,748,000 after acquiring an additional 1,524,313 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in BridgeBio Pharma by 170.8% during the third quarter. The Manufacturers Life Insurance Company now owns 665,604 shares of the company’s stock valued at $17,552,000 after acquiring an additional 419,813 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.